Trillions of dollars worth of oil found in Australia

Discovery could turn outback into new Saudi Arabia

Published: 01/25/2013 at 1:37 AM

(London Telegraph) Up to 233 billion barrels of oil has been discovered in the Australian outback that could be worth trillions of dollars, in a find that could turn the region into a new Saudi Arabia.

The discovery in central Australia was reported by Linc Energy to the stock exchange and was based on two consultants reports, though it is not yet known how commercially viable it will be to access the oil.